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Personal Liability Insurance

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What is personal liability insurance?

Personal liability insurance offers cover for any claims taken out against an individual who is considered legally responsible for injury to another person, or for damage sustained to property. Personal liability insurance coverage is not a commonly-used policy in the United Kingdom and tends to be incorporated into existing home insurance, rather than for any workplace policies.

Get in touch with us today to further discuss your insurance needs as a tradesman, or to put together your business’s own personal public liability insurance policy.

Get compensation on any personal claims made against you.

Tradesman Saver offers a huge range of insurance policies to businesses in all manner of industries, looking to cover claims related to injury and property damage. As such, we frequently receive enquiries from potential customers who are looking for information about personal liability insurance coverage. Read on to learn more about when you might need personal liability insurance, what it covers, and which other forms of cover might benefit your business.

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What does personal liability insurance cover?

Personal liability insurance covers individuals in a similar way to how businesses are covered by public liability insurance. These policies protect against any harm which befalls an individual, or their property, as a result of any action you have undertaken. For example, personal liability insurance would cover you if you offered to clean a friend’s windows and accidentally broke a pane of glass when you were setting up your ladder. Public liability insurance would offer the same protection to a professional window cleaner.

Do I need personal liability insurance?

Businesses are not protected by personal liability insurance and individuals who are looking for protection for damage or personal injury claims made against their company should instead strongly consider taking out a public liability insurance policy. This offers full financial protection to any businesses whose activities are deemed legally responsible for any injury or damage to property sustained by a client, member of the public, or third party.

Public liability insurance also comes as one of five standard covers issued with any Tradesman Saver policy, alongside financial loss, products liability insurance, legal expenses cover and accidental death insurance. These have been chosen to create a cover that acts in the best interests of a huge range of businesses, with optional policies such as personal accident cover and employers liability insurance also available at an additional charge.

Personal Liability Insurance: Frequently Asked Questions

What’s the difference between personal and public liability insurance?

Personal Liability Insurance, also known as ‘Professional Indemnity’ insurance, covers the financial costs of claims and legal expenses related to allegations of professional misconduct or negligence made against an individual. It does not cover any damage caused to property or injury sustained by a third party.

Public Liability Insurance on the other hand is designed to protect individuals from third-party claims of negligence or damage caused to property. It does not cover any personal injury, alarm or financial losses sustained by the policyholder.

What’s the difference between professional indemnity insurance and personal liability insurance?

The main difference between professional indemnity insurance and personal liability insurance is that Professional Indemnity Insurance covers the financial costs of claims and legal expenses related to allegations of professional misconduct or negligence made against an individual, while public liability insurance protects individuals from third party claims of negligence or damage caused to property.

Who needs personal as opposed to public liability cover?

Professional Indemnity Insurance is usually taken out by professions such as accountants, medical practitioners, consultants and lawyers, as they may be held liable for any losses or damages sustained by their clients due to their professional advice or services. This type of insurance policy covers the cost of defending allegations made against them, as well as covering any compensation awarded in the event of a successful claim.

Public Liability Insurance is usually taken out by businesses and organisations, as it covers their legal liability for any injury or damage to third parties resulting from their business activities. This type of insurance policy also covers the cost of defending allegations made against them, as well as covering any compensation awarded in the event of a successful claim.

If I have personal liability insurance, do I still need employers liability insurance?

If you have personal liability insurance, you may still need to take out employers liability insurance depending on the type of business you are running. Employers’ Liability Insurance is legally required for businesses that employ one or more people, as it covers an employer’s legal responsibility for any injury or illness suffered by their employees in connection with their work. It also provides protection against claims made by former employees who believe they have been injured or become ill as a result of their work for the business.

Therefore, if your company employs anyone, it is essential that you take out employers liability insurance. If you do not have this type of cover in place and an employee makes a claim against you, then you could be liable to pay substantial damages.

Do I need personal liability insurance at work?

In addition to employers liability insurance, there are other forms of business insurance that may also be relevant for your company. For example, public liability insurance can provide cover against claims made by members of the public who sustain injury or damage due to your business activities. This type of cover is particularly pertinent for businesses operating in customer-facing roles, such as retail stores or restaurants. Other forms of liability insurance include professional indemnity cover and product liability insurance – both of which are designed to protect your business from legal claims made against it.

Are there any insurance policies which already cover me against third-party claims?

It is possible that some of the existing insurance policies you have already provide cover against third-party claims. However, it is important to review your policy documents carefully and contact your insurer for further clarification.

It is also recommended that you seek professional advice from a qualified insurance advisor who can help ensure that any relevant coverage is in place to meet the specific needs of your business. By doing this, you can be sure that your business is properly protected from any potential third-party claims.

What types of losses are covered in a liability insurance policy?

Liability insurance typically covers the legal fees associated with defending against any claims made against the insured party plus any compensation payable as a result of any claims successfully pursued.

This may include any medical expenses, property damage, loss of income or other financial losses sustained by the third party as a result of the insured’s negligence or wrongdoing. Depending on your policy, it may also provide coverage for any personal injury suffered by the third party and the costs associated with repairing any damage caused to their property.

Do I need personal liability cover if I’m self employed?

If you’re self-employed, you’re responsible for any liabilities resulting from your business activities. This is why it’s important that you have adequate personal liability insurance cover in place to protect yourself financially. It’s also a good idea to look into additional coverage such as product liability insurance cover and professional indemnity insurance if appropriate for your industry.

If you’re looking for an all-in-one solution, or tailored cover, it could be a good idea to get in touch with our experienced team today. At Tradesman Saver, we can provide a complete range of insurance policies, including both personal and public liability insurance policies. For more information on any of our insurance packages, call our experienced team today.

Does public liability insurance cost more than personal liability insurance?

Public liability insurance is highly recommended and protects you against more than personal liability insurance. Saying that, here at Tradesman Saver, we are dedicated to keeping our client’s insurance costs as low as possible. As such, we’re often able to provide adequate public liability insurance cover for as little as £59 per year, protecting you against compensation claims, personal injury or property damage.

For more information, don’t hesitate to get in touch today.

What does public liability insurance cover that personal liability insurance doesn’t?

Public liability insurance covers any injury suffered by a third party and the costs associated with repairing any damage caused to their property. This is different to personal liability insurance which covers liabilities related to your own negligence.

Additionally, public liability cover will also provide financial protection if you are sued for causing harm or any kind of accidental injury to another person. In this case, public liability insurance covers your legal costs, and should be considered as essential.

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